RigNet enters Kazakhstan through acquisition of Munaicom

RigNet Inc. (Nasdaq:RNET), a global provider of managed remote communications solutions, telecom systems integration services, and collaborative applications to the oil and gas industry, has acquired Timas Munaicom TOO (Munaicom), an oilfield communications company based in Almaty, Kazakhstan.

This acquisition positions RigNet to provide remote communications services in Kazakhstan, and serves as a beachhead for further expansion in Central Asia. Under the terms of the deal, RigNet has acquired 49% of the shares in Munaicom. Following the acquisition, Munaicom remains a licensed telecommunications provider in Kazakhstan.

Initially, the company will continue to operate in Kazakhstan under the name Munaicom. Both companies expect business operations to continue as usual.

Established in 2011, Munaicom acquired its valid provider's license for the provision of VSAT services in November 2011.

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